Global Aircraft Actuator Market: Key Highlights
Global Aircraft Actuator Market: Key Market Dynamics
Global Aircraft Actuator Market: Regional Overview
Asia-Pacific region is expected to grow at a higher rate during the forecast period due to the growing demand for commercial and military aircrafts. As per Boeing, the Asia-Pacific region will account one-third of global demand and will need 17000 new commercial aircraft by 2039. China, India, and Japan will have expected to grow at a higher rate in the Asia-Pacific region due to technological advancement, increasing population, and increasing domestic air traffic.
North America is expected to dominate the aircraft actuator market during the forecast period due to the increase in adoption of safety standardization policies for North American airlines. The US is expected to dominate the aircraft actuator market during the upcoming years due to increasing investment in redesigning the wide-body aircrafts. In September 2019, Boeing announced that it will gradually increase the manufacturing rate by late 2020. With this, the actuator market will be increased in North America during the upcoming years.
Global Aircraft Actuator Market: Key Players Overview
Honeywell International, Inc. offers industry-specific solutions to automotive products and services to the aerospace industry. The company operates through four business segments namely home and building technologies, aerospace, safety, and productivity solutions. The Aerospace segment provides integrated avionics, aircraft engines, and related products and services for aircraft manufacturers. The company provides various flight control actuation, missile actuation, marine actuation, and engine control actuation systems for controlling motion activities. In August 2018, Honeywell International Inc. is entered into a partnership with Lockheed Martin to provide a control actuation system to Increase Rocket Accuracy.
Moog Inc. engages in the provision of advanced motion control products for industrial, aerospace & defense, and medical application. Motion control products include all forms of actuation technology, control electronics, and system software. The company provides various types of actuators for flight control actuation, engine control actuation, active vibration control, and utility actuation. In November 2019, Moog Inc. Partnered with Lockheed Martin to provide a primary flight control system and wing fold actuation system on the F-35 fighter.
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